Fillable Form 150-553-004 - Confidential Personal Property Return

GENERAL INFORMATION

What other things should I know about ﬁ ling a personal

A Reminder . . .

property tax return?

First Time Filer—Submit your original return and at tach ments

What reporting date should I use for the information

to the coun ty as ses sor. Include only personal property in that

requested on this return?

coun ty. Com plete a sep a rate return for each location in each

This return must show all taxable personal property which you

coun ty in which you have personal property.

own, pos sess, or control as of 1:00

., January 1 (ORS 308.250).

2004 Assessment Cancellation—If your assessment was

cancelled last year by your coun ty as ses sor, and if you have not

When should I ﬁ le?

added any taxable personal property, check the box, sign and

File personal property returns with your county as ses sor on or

date the Tax pay er’s Dec la ra tion and sub mit the return to your

before March 1. In special situations, the assessor may grant an

county assessor.

extension if you submit your reasons in writ ing to the as ses sor.

No Property to Report—If you do not have tax able per son al

Your request must be received on or before the March 1 ﬁ ling

property in the county send ing you a return, attach a full

date (ORS 308.290).

ex pla na tion. Explain the disposition of property you reported

last year. Sign and date the Tax pay er’s Dec la ra tion and send

What if I ﬁ le late?

it to the coun ty as ses sor be fore the ﬁ ling dead line.

The penalty is

5 percent

of the tax owed if the return is ﬁ led

af ter March 1, but on or before June 1. The penalty in creas es to

What personal property is taxable?

25 per cent

of the tax owed if the re turn is ﬁ led after June 1, but

on or before Au gust 1. After

August 1,

the penalty is

50 per cent

Taxable personal property includes machinery, equipment, fur ni ture,

of the tax owed (ORS 308.296).

etc., used previously or presently in a business (including any prop er ty

not currently being used, property placed in storage, or prop er ty held

for sale).

What happens if I falsify the information on the return?

Any person who furnishes false information is subject to the crim i nal

What personal property is not taxable?

penalty provisions of ORS 305.990(4).

• Intangible personal property: Money held at interest, bonds, notes,

shares of stock, business records, surveys and designs, and the ma te -

What happens after the return is ﬁ led with the county

ri als the data is recorded on (paper, tape, ﬁ lm, etc. ORS 307.020).

assessor?

• Computer software.

Your return will as sist the assessor in the assessment of your per son al

• Household goods, furniture, tools and equip ment used ex clu sive ly

prop er ty. In some cases an appraiser may inspect your property. Your

for personal use in and around your home (ORS 307.190).

return will remain a conﬁ dential record at all times. After October 25

you will receive a tax statement show ing the value of your per son al

• Inventory held for resale (ORS 307.400).

prop er ty and the amount of tax due.

• Livestock (ORS 307.394).

• Licensed vehicles and equipment other than ﬁ xed load and mo bile

When do these taxes become my responsibility?

equipment. Examples of taxable ﬁ xed load and mobile equipment

On July 1 personal property taxes become a lien against the assessed

are shown on the back page (ORS 801.285).

prop er ty and any taxable personal property owned or in possession

• Farm machinery and equipment used primarily in the prep a ra tion

of the person in whose name the property is assessed. The taxes are

of land, planting, raising, cultivating or harvesting farm crops or

a debt due and owed by the owner of the personal property (ORS

feeding, breeding, management and sale of, or the produce of,

311.405(4)).

livestock, poultry, fur-bearing animals or bees, dairies, agricultural

or horticultural use (ORS 307.394).

Keep a photocopy and these instructions for your records.

INSTRUCTIONS FOR COMPLETING PERSONAL PROPERTY RETURN FORMS

At your request, the assessor’s ofﬁ ce will assist you in completing this return.

Schedule One—Leased or rented personal property

Schedule Two—Noninventory supplies

Report total cost on hand as of January 1, of any taxable item which

REPORT ALL LEASED OR RENTED ITEMS AS OF JANUARY 1.

will not be come part of ﬁ nished goods or which will not be di rect ly

If you do not lease equipment to or from others, write “None” in

sold to customers. For example:

Schedule 1.

General Ofﬁ ce Supplies: Copy paper, envelopes, pens, stationary, etc.

Maintenance Supplies: Cleaning supplies, axle grease, etc.

Equipment leased to others: Attach a list showing name and ad dress

Operating Supplies: Straws, paper cups, sacks, gasoline, diesel, etc.

of lessee, de scrip tion, date of acquisition, and original cost. If man u -

Spare Parts: Repair parts, computer parts, automotive parts, etc.

fac tur er, report at real market value, rather than man u fac tured cost.

Other Noninventory Supplies: Items not covered by the other cat e go ries.

Equipment leased from others: Attach a list showing name and ad -

Schedule Three—Floating property

dress of lessor, description, date of acquisition, and original cost. If orig-

Enter the information as requested. Do not include personal li censed

i nal cost is not known, give length of lease and amount of the monthly

boats used only for personal use. Report ﬂ oating homes, docks, and

payment. Advise if capitalized and included with other as sets to avoid

boathouses on this form.

duplicate assessment.

All other vessels

Item 3: Who is responsible for paying the tax to the county? Check

either the ﬁ ler of this return or the second party listed in column 3, in

Report houseboats (self-pro pelled) used in rental businesses and oth er

Schedule 1 box.

re quired ﬂ oating ves sels.

Form 150-553-004 - Confidential Personal Property Return - 2005 Page 3

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